ACOE_Self-Study

2014-15 and 2016-17, much of it due to salaries and associated New York State fringe benefits. Fiscal challenges have been met by placing a greater emphasis on other sources of funds, such as clinical care, research and philanthropy as well as strategic expense budgeting. Since no single source of funding fully supports the College, it is necessary to budget on an "all funds" basis. In order to do this in a meaningful way, the College must generate campus-based revenue to augment diminishing levels of State support to an extent that is sufficient to fund its on-going spending needs and build reserves for the future. Maintaining positive fund balances is essential to this process. Over the last several years, the College has been able not only to maintain but also to grow its fund balances to over $18M as of 6/30/18 (see chart below). This has enabled the campus to make continued progress in achieving the goals and objectives set forth in its strategic plan. Looking to the future, the College will continue its "all funds" budgeting, growing revenue where possible and adjusting spending accordingly, in order to maintain normal operations and to preserve the positive fund balances needed for both planned growth and dealing with uncertainty. IPEDS budgetary data are given in Appendix IV-19 . The College has maintained a strong program to rehabilitate and renovate its facilities. In the past few years, it has constructed improved student spaces, including a fitness facility, state-of- the-art instructional spaces, and meeting/seminar rooms (see Standard 7). A major renovation of the ground level floor has recently been completed. Currently, the College library is being upgraded, and a new and future-looking pediatric unit is in design with construction funding committed.

An indication of the College’s fiscal strength is its fund balances, which are reserve funds that can be used to support its priorities. Fund balances for recent years are given below:

Tuition and Fees Total revenues from tuition and fees for 2015-16 and 2016-17 are $10.9 million and $11.9 million, respectively. Tuition is currently determined by the University’s Board of Trustees upon the recommendation of the campus. In-state and out-of-state tuition are, respectively, $29,240 and $50,150 per year for the optometry program and $11,090 and $22,650 per year for the graduate program (2018-2019 academic year). Most full-time PhD students receive a tuition waiver and stipends for teaching or research assistantships. Most part-time MS students are also full-time

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